Investors Follow Buffett Into AT&T

AT&T

shares are trading higher by $0.45 at $32.76 in Monday's session. The catalyst for the rally is the announcement in a 13-F filing, that the iconic Warren Buffett has taken a 60M share position in the high dividend yielding issue. Despite the news being out before the open, shorter term traders may have been able to captilize on the news. After a flat open, it declined $.09 below Friday's low before bottoming at $32.22 and turning higher. So far, it is finding resistance in a familiar area. Over the last four trading sessions, it has peaked between $32.84-$33. At this time, the issue is trading just off this key level.

Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com.